Second Home Insurance You Can Trust
If you have a second home, whether you split your time between your two homes or whether one is strictly a vacation home, you need insurance for this homes, especially because it might be uninhabited for long portions of the year. When you insure a second home, this is often classified as specialty coverage, because of the special issues and circumstances that come along with owning this second home.
You may think that the same type of coverage that you have on your primary, full-time residence is good enough for your second home, but many vacation homes are in less than pristine condition and might not even meet the qualifications for more standard, comprehensive coverage. You likely need a more basic or flexible type of insurance.
Do I need second home insurance?
It is never a good idea to own property and to have no insurance on it. Second homes, especially those that you do not occupy for long spaces of time, come with their own risks. Here are some of the most common reasons you need second home insurance:
No occupants for long periods of time – If you use your second home as a vacation house, you might go months without being able to visit it. Even if you go to your second home every single weekend, there is still plenty of time when you are not in the house that something can go wrong and won’t be reported until much later. For example, a fire might start from faulty wiring and you might not discover it until two weeks later. If that happened in your primary residence, you would find and extinguish it in minutes.
Isolated location – Many second homes are in rural or isolated locales. This could mean that even if you are on the property when something goes wrong, it could take a long time for help to arrive. If your vacation home, for example, is a cabin in the woods, it could be hours, not minutes, before a police officer is able to get to your home.
Guests and tenants – You might occasionally rent your second home out, allow guests to use it, or bring guests along to this location. Because it is your property, you would liable for damage and for injury that occurs on the property, even if you are not there. A second home insurance policy could protect you from liability in these instances.